Both currency exchange providers can facilitate transfers of any size but if you are looking to lock in a rate or a stop loss to hedge against future exchange rate fluctuations, then Currencies Direct will be able to support your requirements. Azimo charges fees based on the size and type of transaction, further details are covered in the fee section below.

Azimo

  • Azimo is a traditional currency transfer provider, where you can carry out money transfers online only.
  • Transfer payments will typically be completed in 1-3 days.
  • The broker can carry out transfers to over 195 countries and you can make payment transfers from six supported currencies.

Currencies Direct

  • Currencies Direct has a core business that is aimed at attracting the personal and online seller market.
  • They have a significant amount of online content and tools available to support online sellers including linkups with Amazon and ebay.
  • Currencies Direct has the lowest transfer value at just £1.$1/€1 - ideal for small remittance payments.

Both companies typically deliver currency exchange trades to a beneficiaries account within 1-3 days.

Currencies Direct can support a regular payments schedule, where Azimo cannot support this and when it comes to customer reviews, they both top the bill, each with over 10,000 reviews, with a five star rating.

Azimo
Amount Received
£ 10,000.00
EURn/a
USDn/a
CADn/a
AUDn/a
£ 0.00 Avg. Saving vs. Banks ?
Go to site
Currencies Direct
Amount Received
£ 10,000.00
EUR11,769.33
USDn/a
CAD17,181.69
AUD19,483.35
£ 192.35 Avg. Saving vs. Banks ?
Go to site
?
Est. 2012
Azimo
Fee: ? The First Azimo transfer is fee-free and then after that they can be as low as £1, but the exact amount can vary based on: - Where you are sending money to and from - Which method you send with: online bank transfer or debit/credit card
Bank Partner: ?
Speed: ? 1-5 days
Local Settlement: ? Europe
Transfer Methods ?
Phone and online transfer services
Regulated By: ?
FCA
General Notes Azimo Ltd. is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN 900220) for the issuing of electronic money. Azimo Ltd is licensed and regulated by HMRC as a Money Services Business (MSB) License Number 12676497
Country Notes 195+ countries are part of Azimo’s global network
Currencies Direct
Fee: ? No Fees via FXcompared
Bank Partner: ?
Speed: ? 1-3 days
Local Settlement: ? UK, Spain, France, USA, South Africa
Transfer Methods ?
Phone and online transfer services
Regulated By: ?
FCA, FSB, Bank of Spain, FinCEN
General Notes Expert support and tailored transfer options. Segregated client funds.
Country Notes 20+ global offices in the UK, Europe, US and South Africa. Transfer to over 120 countries.

Azimo Features

  • £1.99 per transaction

  • Five-star Trustpilot rating from over 10,500 reviews

  • Website is available in eight languages

  • Transfer from as little as £10

  • You can trade online 24/7 but only online, Azimo do not offer a telephone trading system

  • Transfer to Azimo from various payment methods, and carry out transfers from six originating currencies including GBP, EUR, Danish Krone, Norwegian Krone, Swedish Krona, Swiss Franc

  • Good investor information and guides available on their site

  • Quick and easy to open an account online you will need to verify your identity with documents before you can trade

  • Payments can be completed in 1-3 days

Currencies Direct Features

  • You can trade online or by telephone

  • Ideal for remittance payments such as transfers to friends and family, with a minimum transfer amount of £1/€1/$1

  • There is no upper limit to exchange rate transactions.

  • Mastercard which can be used for multi-currency foreign currency payments abroad

  • Transfers are typically completed within 1-3 business days

  • Most transfers are fee free - see fee section for more

  • Good collateral on their website for personal and business accounts plus a very useful section for online sellers

  • Products to suit each customer type, from vanilla products to complex hedging contracts offered through Currencies Direct risk management

  • Has a broad global reach with a number of offices worldwide - find out more in global section

  • Website has a good range of language versions including: Chinese, French, Italian, Norwegian, Portuguese, Spanish and Swedish

The pros and cons of using Azimo

pros

Set up an account using Facebook

Additional payment methods for POF bank transfers and credit or debit cards include SOFORT Überweisung (Austria & Germany) and iDEAL (Netherlands)

Website available in 10 languages including English, Dutch, French, Italian, Polish, Portuguese, Russian, Spanish and Turkish

cons

No telephone dealing available

No dedicated account management service

Only accepts payments from six originating currencies including GBP, EUR, DKK, NOK, SEK, CHF

The pros and cons of using Currencies Direct

pros

Payments via bank transfers, direct debits and cheques

Excellent customer service

5-star Trustpilot rating

4.6/5 Feefo rating

Free account

Fee-free transactions almost anywhere

Educational guides for personal customers and businesses (SME and online trading)

Regular payments service covers mortgages, studying abroad and pension payments

cons

Not setup for small value transfers or remittances

cons

No telephone dealing available

No dedicated account management service

Only accepts payments from six originating currencies including GBP, EUR, DKK, NOK, SEK, CHF

cons

Not setup for small value transfers or remittances

Azimo
Amount Received
£ 10,000.00
EURn/a
USDn/a
CADn/a
AUDn/a
£ 0.00 Avg. Saving vs. Banks ?
Go to site
Currencies Direct
Amount Received
£ 10,000.00
EUR11,769.33
USDn/a
CAD17,181.69
AUD19,483.35
£ 192.35 Avg. Saving vs. Banks ?
Go to site

Global presence

Azimo can handle transactions to over 195 countries but only from six originating currencies. Check which ones first with Azimo directly.

Currencies Direct detail that you can transfer to most countries in the World and supports 60 currencies.

Compare Other Currency Rates

Advanced: compare to quote from your bank ?

Other International Money Transfer Quotes

OFX (US)

Est. 1998

OFX provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates.

More InfoLess Info
Amount Received
GBP £7,847.64
USD $236.91
saved vs. banks

Venstar

Est. 1990
Established in 1990, Venstar is a worldwide leader in Foreign Exchange Payments and Services.
More InfoLess Info
FXcompared Rating
Amount Received
GBP £7,851.60
USD $241.91
saved vs. banks

Average US Bank

Est. 1900

Average of the top US Banks costs as compiled by our own FXC Intelligence group

More InfoLess Info
Amount Received
GBP £7,652.04
No saving vs. banks

Frequently Asked Questions

How can I make payments to Azimo for my transfer?

You can pay by bank transfer for any payment size, or by card (debit/credit) for payments of £3,000 in value.

How long does it take to transfer money?

Azimo:

A transfer can take a day and anywhere up to three days it depends on your recipient’s bank and how quickly they can process the process the payment.

Currencies Direct:

Typically between 24 – 48 hours to be received in the beneficiaries account.

Do I need to have a smart phone to have an account with Azimo and carry out currency transfers?

No, while they have smart phone apps for IOS and Android, you can also carry out transactions via the internet.

What can I do if I change my mind about my exchange or something outwith my control has happened that means I no longer need the trade?

For Curremcies Direct, it doesn’t matter where you set up your transfer, once it is confirmed, the agreement to transfer is legally binding. That means that any changes you wish to make will be chargeable. Contact Currencies Direct as soon as you aware of the situation.

I am a business, what proof do I have to provide to open an account if I am a business?

Azimo:

They are consumer only

Currencies Direct:

It depends where your company is and where your shareholders and directors are based. You may need to provide passports, utility bills, certificates of incorporation etc. Find out more by contacting Currencies Direct directly.

Ease of use

Azimo

  • Quick to open an account using either your email address or even your Facebook account

  • All accounts are to be managed online and their IOS and Android apps make it easy to manage your accounts while on the go

  • It is easy to make a transfer using credit, debit or bank transfers and they also support payments through other regional pay applications such as Sofort Überweisung (Austria & Germany) and iDEAL (Netherlands).

Currencies Direct

  • Payments into Currencies Direct accounts may be made by bank cards, direct debits and cheques

  • They have a very small minimum transfer value of £1, so they can handle all types of FX trades

  • Manage your account through an IOS app


Security

Both companies are regulated by the Financial Conduct Authority. There is no protection from the Financial Services Compensation Scheme. However, by using these two established brands the risks are fairly small.

Currencies Direct has achieved the Level 1 Dun & Bradstreet ratings, minimum risk. However, it is best to remember that these ratings are subject to change, so best to check with Dun and Bradstreet for the latest.

Your money is kept in segregated client accounts which are separate to both Azimo and Currencies Direct accounts.

Online security

Azimo uses high levels of encryption as well as verified by Visa for mobile and Mastercard secure code to verify orders are genuine.

Currencies Direct go further to explain that their site includes 128-bit encryption, to ensure that no one can get hold of, or interfere with any personal data that you may be transferring.

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FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.